Core Viewpoint - The company has established partnerships with four of the top six global laptop brands and anticipates shipping approximately 18 million units in 2025, with expectations to exceed 21 million units by 2026, despite industry pressures from rising storage chip prices [1] Group 1: Company Performance - The company demonstrates competitiveness in the laptop industry through quality and product innovation accumulated from its mobile phone segment, faster R&D cycles, and efficient operational capabilities [1] - The company expects its overall PC business to achieve more than 20% year-on-year growth by 2026 [1] Group 2: Market Position - The company's market share and industry position in the global laptop ODM sector are projected to further improve as it increases its shipment volumes [1]

格隆汇2月3日丨华勤技术(603296.SH)近日接受特定对象调研时表示， 2025 年，公司在座舱和智驾上继 续实现布局和突破，实现了 10 亿以上的规模发货。在智能辅助驾驶域控上，既有国产平台解决方案， 也布局了 NV 的高端辅助智驾平台解决方案。 预计 26 年汽车电子业务能达到翻倍成长，争取3 年实现 100 亿左右的营收规模。 客户方面，我们在国内既有传统主流车厂客户，也有新势力客户，同时在日本车厂做到了项目定点的突 破。公司汽车电子的制造能力与质量管控能力，得到了车厂客户的一致认可，供应商地位更加稳固。 ...

我们预计以手机为主的移动终端品类、以 PC 为主的办公场景品类和以服务器交换机为主的数据中心品 类，在未来 3-5 年左右的时间里，均将先后实现 1000 亿左右的营收规模，集团整体达到 3000 亿规模， 届时公司整体利润率也会有一些提升。 格隆汇2月3日丨华勤技术(603296.SH)近日接受特定对象调研时表示，2026 年我们面临如存储芯片缺货 涨价、外部政策不确定等更加复杂的外部环境，我们谨慎评估，预计 2026年公司整体营业收入同比增 长超过 15%，利润的增长率会更高一些。同时产品结构会进一步改善，会拉动整体毛利率温和增长。 ...

Core Viewpoint - The company anticipates significant growth in data business revenue, projecting over 40 billion by 2025, nearly doubling its current figures and positioning itself among the industry leaders [1] Group 1: Revenue and Growth Projections - The company expects data business revenue to exceed 40 billion by 2025, indicating close to a doubling in growth [1] - AI servers are projected to account for over 70% of the revenue, with switch revenue experiencing a multiple growth, surpassing 2.5 billion [1] Group 2: Market Position and Client Relationships - The company has established itself as a core supplier among the top three major clients, being one of the few suppliers to engage in comprehensive cooperation across the full stack of data center products [1] - The company has built an independent brand in the industry client market, achieving revenue growth that has also doubled [1] Group 3: Product Development and Competitive Advantage - The company is expected to see increased shipments of supernode products, which are becoming mainstream offerings for large cloud vendors [1] - The company has an early layout in supernode products, which is anticipated to bring scale advantages by 2026, supported by its unique capabilities in computing, AI, and networking [1] - The company maintains a technology moat through continuous R&D investment and has prepared its own production capacity for supernode products, ensuring maximum resource availability for clients [1] Group 4: Future Outlook - By 2026, the company is projected to increase its procurement share among three major CSP clients, with ongoing optimization of product structure [2] - The company aims to maintain its leading position in AI servers, achieve scale leadership in supernode products, and continue doubling growth in switches [2] - The company is committed to a dual-driven strategy focusing on CSP and industry clients, leveraging its full-stack advantages to accelerate standard product and IDC layout, achieving simultaneous leadership in scale, technology, and efficiency [2]

伴随"智能设备"概念从手机、平板向汽车、机器人等领域加速渗透，全球ODM（原始设计制造商）行 业正站在智能化升级的新风口。 1月28日，全球领先的智能产品ODM平台型公司华勤技术拿到中国证监会境外发行上市备案通知书，拟 发行不超1.0157亿股H股登陆港交所，A+H双资本平台布局再度向前推进。 据招股书，这家行业老牌厂商凭借智能手机、平板、智能穿戴等消费电子核心品类的全球市占率第一站 稳脚跟，更面向人工智能浪潮布局了数据基础设施、汽车电子、机器人等新领域。 浙大城市学院副教授、中国城市专家智库委员会常务副秘书长林先平在接受北京商报记者采访时指出， 智能化浪潮下，头部ODM厂商需要突破传统代工模式的边界，华勤技术能坐稳全球ODM龙头位置，正 是依托技术研发与多品类布局的组合优势，而此次其A+H双资本平台的进一步布局，也为行业发展提 供了范本，资本赋能有效加速企业技术迭代与生态扩张，助力头部企业在高确定性赛道持续深耕。 02.更智能的巨头 人工智能技术的普及，正推动全球智能产品市场结构发生变化，算力基础设施需求扩容、终端智能化升 级、跨领域硬件创新成为当下行业发展的核心增长主线，华勤技术的业务布局也贴合趋势，多品 ...

伴随"智能设备"概念从手机、平板向汽车、机器人等领域加速渗透，全球ODM（原始设计制造商）行业正站在智能化升级的新风口。 1月28日，全球领先的智能产品ODM平台型公司华勤技术拿到中国证监会境外发行上市备案通知书，拟发行不超1.0157亿股H股登陆港交 所，A+H双资本平台布局再度向前推进。 据招股书，这家行业老牌厂商凭借智能手机、平板、智能穿戴等消费电子核心品类的全球市占率第一站稳脚跟，更面向人工智能浪潮布 局了数据基础设施、汽车电子、机器人等新领域。 此番奔赴港交所，或将成为其锚定行业趋势、深挖新旧业务增长的关键一步。 01."全球ODM之王" 随着智能产品产业链分工持续细化，品牌厂商对全价值链解决方案的需求不断提升，具备多品类供应和技术研发能力的ODM企业，正逐 步成为市场发展的主力。开源证券研报指出，华勤技术已发展为"3+N+3"平台型ODM龙头，其行业地位有着相当扎实的数据支撑。 据公司招股书援引灼识咨询数据，2024年公司消费电子ODM整体出货量全球市占率达22.5%，其中智能手机、平板、智能穿戴三大品类 ODM出货量均为全球第一，也是全球唯一同时在多智能终端及数据基础设施领域拥有领先市场份额的O ...

Group 1 - The core viewpoint of the news highlights the performance of the Robot ETF (562500), which has seen a decline of 1.812% from its opening price, reflecting a broader downtrend among its constituent stocks, with 62 out of 66 stocks experiencing losses [1] - The ETF's trading volume reached 740 million yuan, with a turnover rate of 2.94%, indicating sustained trading activity despite the market downturn [1] - The ETF's recent adjustments have increased the humanoid robot component to nearly 70%, successfully removing underperforming stocks and incorporating higher-quality ones, thus achieving a "retain the strong, eliminate the weak" strategy [2] Group 2 - The flexible protective outer layer sector is identified as having significant development potential due to three main attributes: the non-standard tool property, consumable nature, and emotional value associated with customization demands from consumers as robots become more prevalent [2] - The Robot ETF (562500) is noted as the only robot-themed ETF in the market with a scale exceeding 20 billion yuan, covering various segments such as humanoid robots, industrial robots, and service robots, facilitating investors' access to the entire robot industry chain [2] - HuaQin Technology aims to become a leading supplier of full-stack robotic solutions in the 3C manufacturing sector, with plans to deliver a flexible manufacturing wheeled robot by June 2026 [1]

Group 1 - The core point of the article is that Huqin Technology Co., Ltd. has received approval from the China Securities Regulatory Commission for its overseas issuance and listing, planning to issue no more than 102 million ordinary shares for listing on the Hong Kong Stock Exchange [2] Group 2 - The company aims to raise capital through this overseas listing to support its growth and expansion strategies [2] - The issuance of shares is part of a broader trend of Chinese companies seeking to access international capital markets [2] - The approval reflects the regulatory support for companies looking to diversify their funding sources and enhance their market presence [2]

Group 1 - The core viewpoint of the news is that Huakin Technology Co., Ltd. plans to issue up to 101,573,100 overseas listed ordinary shares and list on the Hong Kong Stock Exchange, as notified by the China Securities Regulatory Commission [1] Group 2 - Huakin Technology is a globally leading, technology-driven smart product platform company that provides end-to-end solutions across the entire value chain [3] - The company has over 20 years of experience in the smart product sector and has deeply engaged in the evolution and development of products and technologies during the mobile communication, internet, cloud computing, and artificial intelligence eras [3] - Huakin Technology has established a solid leading position in its main product areas and is recognized as a leading global full-stack smart product ODM platform, achieving the number one position in several smart product categories according to ZhiShi Consulting [3]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice regarding the overseas issuance and listing of Huakin Technology Co., Ltd., which plans to issue no more than 101,573,100 ordinary shares for overseas listing on the Hong Kong Stock Exchange [1] Group 1 - The company intends to issue a maximum of 101,573,100 shares [1] - The shares will be listed on the Hong Kong Stock Exchange [1] - The notice was released by the International Cooperation Department of the CSRC [1]